The Travelers Companies, Inc.

Underwriting Specialist, Program Management

Posted on Apr 14 28 views Hartford, CT


Company Summary
Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Target Openings
1

Job Description Summary
• Work with assigned Managing General Underwriter (MGU) on a daily basis
to address underwriting issues that fall outside of their underwriting
authority.
• Assist MGU in achieving their budgeted financial results (premium, loss
ratio, retention, commissions, pricing, and new business) through execution
of Business Unit strategies.
• Support sales goals and plans of field offices for assigned MGU and help
build producer relationships.
• Facilitate the two-way communication flow of product information and
strategies between field offices and MGU.
• Work with Bond & Specialty Field Office personnel to establish a plan to
promote the Program within their regions.
• Work with MGU to meet overall production and profitability goals while
maintaining desired retention levels.
• Assist with new product filings and endorsements when necessary.
• Promote the program and develop key contacts through joint visits with the
MGU.

Primary Job Duties & Responsibilities
Underwriting:

  • Make appropriate decisions within own underwriting authority and make appropriate recommendations to Senior Management.
  • Underwrite/provide over-authority for more complex and demanding accounts/risks submitted by MGU and develop creative and prudent solutions which mitigate exposures e.g., pricing, retention, endorsements, limits, indemnity, security).
  • Within authority, make timely and prudent decisions consistent with Bond and Specialty Insurance Business Unit requirements and standards and within submission timeframe.
  • Understand and effectively communicate Program strategies to the field. Execute strategies on their accounts to produce budgeted results.
  • Portfolio Management – Continually manage and maintain quality of business required by Business Unit strategy.
  • Accountable for accurate underwriting documentation/ information in account management systems and adherence to documentation standards.
  • Sets the example for the MGU.
  • Strive to become Program industry/subject resident expert.
  • As the referral Underwriter, assure that policies and accounts are effectively underwritten, handled and documented in compliance with Program Management, Business Unit and Regulatory standards and requirements. Utilize pricing, retention, endorsement, and limit strategy to tailor the account to the particular Program appetite. Decline to quote/renew accounts when underwriting review makes such decisions necessary on particular accounts.
  • Execute strategies on their accounts to produce budgeted results. Actively seek feedback regarding strategies and work with the MGU to take corrective actions when necessary.
  • Be accountable for accurate underwriting documentation / information in account management systems and adherence to documentation standards. Monitor and report findings to the MGU.
  • Perform underwriting audits at least twice per year.

Sales Management:

  • Act as a partner with the Field to review MGU sales plans and determine appropriate levels of Home Office and MGU visibility to support producer relationships.
  • May work strategically and tactically with producers to ensure appropriate level of understanding of company goals and objectives.
  • May participate with Field on account specific direct sales efforts to influence the outcome of the sale.
  • May partner with the Field Office on sensitive account specific communication and participate in the communication if necessary.
  • Support and encourage cross sell opportunities within Bond and Specialty Insurance and Travelers.
  • Participate in Program functions to increase visibility in the marketplace, network with key players in the territory, and increase personal knowledge of the industry.
  • Ensure MGU interaction focuses on meeting customer expectations regarding response time and knowledge of
  • products and business.

Operations:

  • Maintain a collaborative relationship with Field Office and Home Office (i.e. Claim, Legal) colleagues.
  • Actively participate in Business Unit meetings.
  • Demonstrate superior responsiveness to the Field (consistency, quick response, knowledge of products).
  • Participate on projects having an impact on the business.
  • Understand, embrace, execute, and foster policies, procedures, and strategies.
  • Work strategically and tactically with MGU to ensure appropriate level of understanding of company goals and objectives.
  • Support and encourage cross sell opportunities within Bond & Specialty Insurance and the overall Travelers organization.
  • Perform other duties as assigned.

Minimum Qualifications
  • Minimum of 3 years of equivalent work and/or industry experience.

Job Specific Technical Skills & Competencies
Communication:

  • Strong communication (written and verbal), influencing, negotiating, listening, and interpersonal skills to effectively develop/maintain productive internal and external relationships.
  • Effectively communicate and collaborate with Field and Home Office colleagues (Claim, Legal).
  • Communicate decisions.
  • May require assistance to deliver more difficult messages.
  • Adept at framing issues and solutions for MGU.
  • Communicate with confidence and influence outcome of interactions.
  • Make presentations internally and possibly externally.

Employment Practices
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.


If you have questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.